The present work describes martensitic transformation technique that control magnetic gradient in magnetically graded materials. An initially wedge-shaped 304 stainless steel is compression deformed into a rectangular cross section under plane-strain conditions at liquid nitrogen temperature (77K). The magnetization distributions within the specimens are evaluated with a vibrating sample magnetometer (VSM). It is found that the functionally graded material, in which the saturation magnetization changes linearly, concavely or convexly, could be fabricated by compression deformation of wedge-shaped stainless steel under plane-strain conditions at liquid nitrogen temperature.